Details here.
Sensory Science appears to be a holding company for a bunch of other things. The interesting ones to us are Go-Video (those dual VHS and VHS/DVD decks), Rave:MP (which will no-doubt be killed/folded into the Rio product line), and California Audio Labs (makes super-high-end audiophile equipment).
ReplayTV, for those of you who don't know, makes a hard-disk based TV recorder, much like TiVo. It runs FreeBSD, I believe.
The million dollar question is what kinds of interesting products can come out this merger. A Go-Video + ReplayTV box with EMPEG software would be the ultimate home multimedia station. Rip your CDs, store them on the hard drive as MP3s, plus save your videos and write them back out to tape later, or maybe rip the sound from a video or do video editing, or ... It could be a hell of a toy. Want to mix Pink Floyd's
Dark Side of the Moon on top of
The Wizard of Oz? It's just a small matter of software.
Of course, this gizmo would also be the ultimate copyright violation station, meaning it'll never happen.